Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
HC dismissed the petition challenging GST demand for AY 2017-2020. Petitioner allegedly facilitated tax evasion by passing ineligible Input Tax Credit (ITC). While petitioner claimed discharge of tax liability through ITC from supplier invoices, court found prima facie evidence of petitioner acting as accessory in passing ineligible ITC. Following precedent set in Sahyadri Industries Limited case, HC held that despite tax liability being met through ITC without cash payment, the transaction indicated fraudulent ITC passing scheme under CGST Act 2017 and TNGST Act 2017, warranting dismissal of relief sought.
HC dismissed the petition challenging GST demand for AY 2017-2020. Petitioner allegedly facilitated tax evasion by passing ineligible Input Tax Credit (ITC). While petitioner claimed discharge of tax liability through ITC from supplier invoices, court found prima facie evidence of petitioner acting as accessory in passing ineligible ITC. Following precedent set in Sahyadri Industries Limited case, HC held that despite tax liability being met through ITC without cash payment, the transaction indicated fraudulent ITC passing scheme under CGST Act 2017 and TNGST Act 2017, warranting dismissal of relief sought.
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